Akerna announced its sale of 365 Cannabis to 365 Holdco LLC (“365 Holdco”). The sale was completed pursuant to the terms and conditions of stock purchase agreement by and between Akerna and 365 Holdco (the “SPA”) entered into by the parties on January 11, 2023. Under the terms of the SPA, as consideration for the sale of all of the outstanding shares of common stock of The NAV People, Inc (dba as 365 Cannabis), Akerna received a cash payment of $500,000 and the parties agreed to terminate an earn-out payment due and payable to the principals of 365 Holdco LLC with a deemed value of $2,283,806. $100,000 of the cash payment is being held back by 365 Holdco in accordance with the terms of the SPA for post-closing accounts payable adjustments and certain indemnification claims through April 30, 2023.
About Akerna
Akerna is an enterprise SaaS company focused on compliantly serving the cannabis, hemp, and CBD industry. First launched in 2010, Akerna has tracked more than $20 billion in cannabis sales to date and is the first cannabis software company listed on Nasdaq. Using connected data and information to propel the cannabis industry forward, Akerna empowers businesses, governments, patients, and consumers to make smart decisions. The Company’s cornerstone technology, MJ Platform, the world’s leading infrastructure as a service platform, powers retailers, manufacturers, brands, distributors, and cultivators. Akerna also offers a complete suite of professional consulting services and data analytics for businesses as well as solo sciences, Leaf Data Systems, Trellis, Ample Organics, Viridian Sciences and 365 Cannabis. For more information, visit https://www.akerna.com/.
